The Bank of International Settlements (BIS) recently published a speech by Guy Debelle, the Reserve Bank of Australia Deputy Governor and chair of the FX working group charged with issuing the FX Global Code of Conduct.
Mr Debelle’s speech was given at the CLS FX Industry Reception, in Sydney on 30th January 2017.
Of particular interest in Mr Debelle’s speech was reference to the FX Global Code and the Foreign Exchange Working Group (FXWG) that is working towards completing it.
In his speech, Mr Debelle informed:
That the FXWG has provided FX market participants with a number of opportunities to comment upon the draft version of Phase 2 of the FX Global Code;
The FXWG will shortly be issuing a “fatal flaw” version of the complete FX Global Code for comment;
Distribution of the code for these purpose will predominantly be via FX committees (FXCs) and other industry associations;
The aim of issuing this version of the FX Global Code will be to ensure that all perspectives are appropriately reflected in the final code.
The FX Global Code is due to be released in London at the end of May 2017.